HDB BTO Explained: What Singaporeans Need to Know
The HDB BTO scheme is a popular housing option for many Singaporeans looking to buy a new flat at a reasonable price. Introduced by the Housing & Development Board, the BTO system allows eligible applicants to apply for new flats that are built only when there is sufficient demand.
The application process requires interested individuals or families to submit their preferences and meet specific eligibility criteria. Once the application period closes, flats are allocated through a computerized balloting system which determines the successful applicants.
The pricing of BTO flats is generally lower than resale flats due to government subsidies, easing financial burden for buyers. However, the waiting period for BTO flats can range from three to five years as here construction starts after the application phase.
Prospective owners can select from different locations offered during each BTO launch cycle, ranging from central areas to suburban towns.
For many Singaporeans, participating in the BTO scheme is a practical step towards homeownership with government support.